U.S. stocks rose on Tuesday as Election Day began, with investors waiting to see whether Kamala Harris or Donald Trump will shape the economy as the next president.

The tech-heavy Nasdaq Composite (^IXIC) led the gains with a gain of 0.5%, while the benchmark S&P 500 (^GSPC) gained about 0.3%. The Dow Jones Industrial Average (^DJI) opened just above the zero line after a day of losses for stocks.

Americans go to the polls as Harris and Trump go head-to-head after a closely contested presidential race. Investors are bracing for market volatility as the outcome may not become clear for days – or even weeks if the outcome is disputed.

Read more: Yahoo Finance's guide to the presidential election and what it means for your wallet

Given the vast differences in candidates' stances on the economy, a long wait for a declared winner could lead to more uncertainty in markets. Historically, while the lack of a clear win has caused short-term turmoil, it has rarely stopped the long-term trend toward gains.

The dollar (DX-Y.NB) and Treasury yields remained broadly steady after declining on Monday as traders withdrew bets on a Trump victory. The greenback edged slightly lower, while the yield on the benchmark 10-year Treasury note (^TNX) was about 1 basis point higher.

Immediately ahead of us is the Federal Reserve's monetary policy decision in November, with a lot at stake on Election Day. Chairman Jerome Powell is overwhelmingly expected to push through a 25 basis point rate cut at the end of the two-day meeting on Thursday.

Meanwhile, more big quarterly results are expected, with results from troubled AI server makers Super Micro Computer (SMCI) and Ferrari (RACE) on the docket.

The bitter seven-week strike at Boeing (BA) has ended after factory workers voted for a new contract that included a 38% wage increase. Shares of the aircraft maker rose about 2% in early trading.